Hang Seng (HSI) Moves Up For the 2nd Day In A Row, Breaks Above 50 Day Average; Doji and Pin Bar Patterns Appearing on Chart

The Hourly View for HSI

Last Updated April 30, 2021, 03:017 GMT

At the moment, Hang Seng’s price is down -53.02 (-0.18%) from the hour prior. This is the 2nd consecutive hour Hang Seng has seen its price head down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, with price now being below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Hang Seng Daily Price Recap

Hang Seng is up 0.8% (231.92) since yesterday, marking the 2nd day in a row it has gone up. Relative to other instruments in the equity indices asset class, Hang Seng ranked 2nd since yesterday in terms of percentage price change. The daily price chart of Hang Seng below illustrates.

HSI

Hang Seng Technical Analysis

First things first: Hang Seng crossed above its 50 day moving average yesterday. For another vantage point, consider that Hang Seng’s price has gone up 9 of the previous 14 trading days. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.